RM Management: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
RM Management
Largest movements
- Cash -€474,810
down €474,810 (-99.6%), from €476,628 to €1,818
mainly Net result for the year (-€469,992) and Investment in fixed assets (net) (-€167,567)
- Tangible fixed assets +€118,461
up €118,461 (+32.3%), from €366,731 to €485,192
of which Land and buildings: +€121,639
- Receivables within one year -€20,975
down €20,975 (-7.6%), from €276,674 to €255,698
of which Other amounts receivable: -€17,475
- Profit (loss) carried forward -€469,992
down €469,992, from €147,270 to -€322,722
- Other debts +€165,314
up €165,314 (+119.1%), from €138,829 to €304,143
- Trade debts -€39,017
down €39,017 (-79.1%), from €49,329 to €10,311
- Debts after one year -€16,745
down €16,745 (-3.2%), from €527,192 to €510,447
of which Other amounts payable: -€50,000
- Tax, wage and social debts -€13,247
down €13,247 (-46.1%), from €28,726 to €15,479
of which Taxes: -€11,578
- Gross operating margin -€299,846
down €299,846, from €227,736 to -€72,111
- Other operating charges +€205,945
up €205,945 (+725.8%), from €28,373 to €234,318
- Financial charges +€32,846
up €32,846 (+70.2%), from €46,773 to €79,619
- Taxes -€16,512
down €16,512 (-98.0%), from €16,855 to €344
- Staff costs +€7,068
up €7,068 (+23.7%), from €29,763 to €36,831
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,215,146 | €834,906 | -€380,240 | -31.3% |
| Fixed assets | 21/28 | €366,731 | €485,432 | +€118,701 | +32.4% |
| Tangible fixed assets | 22/27 | €366,731 | €485,192 | +€118,461 | +32.3% |
| Land and buildings | 22 | €355,591 | €477,231 | +€121,639 | +34.2% |
| Furniture and vehicles | 24 | €11,140 | €7,961 | -€3,178 | -28.5% |
| Financial fixed assets | 28 | - | €240 | +€240 | |
| Current assets | 29/58 | €848,415 | €349,474 | -€498,941 | -58.8% |
| Amounts receivable after more than one year | 29 | €81,000 | €81,000 | = | 0.0% |
| Trade receivables | 290 | €81,000 | €81,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €7,521 | €0 | -€7,521 | -100.0% |
| Stocks | 30/36 | €7,521 | €0 | -€7,521 | -100.0% |
| Amounts receivable within one year | 40/41 | €276,674 | €255,698 | -€20,975 | -7.6% |
| Trade receivables | 40 | €3,500 | - | -€3,500 | |
| Other amounts receivable | 41 | €273,174 | €255,698 | -€17,475 | -6.4% |
| Cash at bank and in hand | 54/58 | €476,628 | €1,818 | -€474,810 | -99.6% |
| Deferred charges and accrued income | 490/1 | €6,592 | €10,957 | +€4,365 | +66.2% |
| Total equity and liabilities | 10/49 | €1,215,146 | €834,906 | -€380,240 | -31.3% |
| Equity | 10/15 | €447,270 | -€22,722 | -€469,992 | |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Outside capital | 11 | €300,000 | - | -€300,000 | |
| Other | 1109/19 | €300,000 | - | -€300,000 | |
| Profit (loss) carried forward | 14 | €147,270 | -€322,722 | -€469,992 | |
| Amounts payable | 17/49 | €767,876 | €857,628 | +€89,752 | +11.7% |
| Amounts payable after more than one year | 17 | €527,192 | €510,447 | -€16,745 | -3.2% |
| Financial debts | 170/4 | €177,192 | €210,447 | +€33,255 | +18.8% |
| Other amounts payable | 178/9 | €350,000 | €300,000 | -€50,000 | -14.3% |
| Amounts payable within one year | 42/48 | €233,684 | €339,486 | +€105,802 | +45.3% |
| Current portion of amounts payable after more than one year | 42 | €16,800 | €9,553 | -€7,247 | -43.1% |
| Trade debts | 44 | €49,329 | €10,311 | -€39,017 | -79.1% |
| Suppliers | 440/4 | €49,329 | €10,311 | -€39,017 | -79.1% |
| Taxes, remuneration and social security | 45 | €28,726 | €15,479 | -€13,247 | -46.1% |
| Taxes | 450/3 | €20,758 | €9,179 | -€11,578 | -55.8% |
| Remuneration and social security | 454/9 | €7,969 | €6,300 | -€1,669 | -20.9% |
| Other amounts payable | 47/48 | €138,829 | €304,143 | +€165,314 | +119.1% |
| Accrued charges and deferred income | 492/3 | €7,000 | €7,695 | +€695 | +9.9% |
| Remuneration, social security and pensions | 62 | €29,763 | €36,831 | +€7,068 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,468 | €48,866 | +€1,398 | +2.9% |
| Other operating charges | 640/8 | €28,373 | €234,318 | +€205,945 | +725.8% |
| Gross operating margin | 9900 | €227,736 | -€72,111 | -€299,846 | |
| Operating profit (loss) | 9901 | €122,132 | -€392,126 | -€514,258 | |
| Financial income | 75/76B | €2,224 | €2,098 | -€126 | -5.7% |
| Recurring financial income | 75 | €2,224 | €2,098 | -€126 | -5.7% |
| Financial charges | 65/66B | €46,773 | €79,619 | +€32,846 | +70.2% |
| Recurring financial charges | 65 | €46,773 | €79,619 | +€32,846 | +70.2% |
| Profit (loss) for the period before taxes | 9903 | €77,582 | -€469,648 | -€547,230 | |
| Income taxes | 67/77 | €16,855 | €344 | -€16,512 | -98.0% |
| Profit (loss) for the period | 9904 | €60,727 | -€469,992 | -€530,719 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,727 | -€469,992 | -€530,719 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.